HAUPPAUGE, N.Y., Jan. 4, 2010 (GLOBE NEWSWIRE) -- Patient Access Solutions, Inc. (Pink Sheets:PASO), an emerging provider of healthcare/financial processing technologies that provide the healthcare industry a graceful migration to Electronic Medical Records (EMR), today announced its commitment to full support of the proposed set of regulations outlining "meaningful use" criteria and the set of proposed regulations that lays out the standards and certification criteria that adopters of EMR must meet to be eligible for federal stimulus funds.
Between $14.1 billion and $27.3 billion is being made available under the Health Information Technology for Economic and Clinical Healthcare Act provisions of the American Recovery and Reinvestment Act of 2009. Patient Access Solutions intends to fully conform to all standards and will place significant emphasis on assisting its smaller-sized healthcare practice customers conform to all federal regulations to ensure receipt of all eligible funds available through the program.
"We believe we are at a strong advantage relative to many other providers of EMR because our solution resides on the Internet; it does not involve the placement of complex software and servers at the healthcare providers' offices," commented Bruce Weitzberg, CEO of Patient Access Solutions. "This enables us to quickly make changes to our service offerings to ensure full compliance to the federal standards as these standards are more fully developed. We are already seeing significant interest from our existing customer base, which has caused us to increase our sales and marketing staffs. We hold high hopes for this market in 2010 and look forward to helping the hundreds of thousands of smaller-sized healthcare provider offices enjoy a smooth migration to EMR."
Under the regulations proposed by the Department of Health and Human Services (HHS), eligible healthcare providers must use electronic medical records to improve the quality, safety and efficiency of healthcare services; reduce healthcare disparities; engage patients; improve the coordination of care; improve public health; and ensure the privacy and security of personal medical information. Additionally, other proposed regulations state that EMR users must be able to securely exchange information among providers and between providers and patients using standardized data elements in technologies. Patient Access Solutions is making a strong commitment to adhere to all regulations proposed by HHS.
About Patient Access Solutions, Inc.
Patient Access Solutions, Inc. (PAS) is a Healthcare Solutions Company which has created a formidable array of technology, resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare information technology environment. The Company's products are designed to allow health care providers an easy migration to the EMR environment. Among these products are D-PAS, which is a state-of-the-art digital pen and paper technology based on Anoto technology, used to capture hand written information into digital forms and EMR systems, and PAS Data Center, which is a terminal solution that allows health care providers to quickly and easily determine benefit eligibility. More information on Patient Access Solutions, Inc. and its products can be viewed at www.pashealth.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Patient Access Solutions Inc. Securities and Exchange Commission filings available at http://www.sec.gov.